Ripple Cryptocurrency Price Up 21% In One Week

JAKARTA – Ripple cryptocurrency (XRP) has again experienced a price increase. On Tuesday 29 June, XRP jumped 10 percent aka recorded a significant increase since 23 June.

According to an Investing report, the spike in XRP's price has pushed Ripple's market capitalization to grow to reach USD 31.7 billion (approximately to IDR 460 trillion). An increase of 2.18 percent from the total market capitalization in the previous few days.

Ripple is still in court against a lawsuit from the US Securities and Exchange Commission (SEC) accusing it of illegally selling securities. They considered that Ripple Labs did not register its cryptocurrency with the SEC first.

However, Ripple insists on rejecting the allegations by questioning the status of Bitcoin and Ethereum for the SEC. The latest news Judge Netburn rejected the SEC's request that forced Ripple to release a number of documents. Ripple found the SEC's request irrelevant.

The lawsuit has become a stumbling block for Ripple's plans to go public. However, in a number of trials that have been carried out, Ripple has won the law. Until now, the trial is still ongoing and it is not known when it will end.

The total of Ripple coins alone is 99 billion XRP. While the coins circulating in the market are only 46 billion XRP. Ripple is currently in the 7th position of cryptocurrencies by market capitalization.

The highest price of all time for XRP occurred on January 4, 2018. At that time, Ripple's price broke IDR 55.755. Meanwhile, the lowest price of all time touched IDR 40.67 on July 7, 2014. When this news was written at 2:25 p.m. local time, the price of XRP was at IDR 9.948 based on data from Coin Market Cap.